TOYO reports first-half revenues of $261.0 million as Texas module output builds
The Tokyo based solar cell and module maker lifted first-half revenue 87.6% to $261.0 million and net income to $45.8 million, and flagged uncertainty over US policy.
Japanese Securities News
Latest equities, bonds, and regulatory news from Japan, updated daily.
Market overview
Japan’s cash equity market is operated by Tokyo Stock Exchange, Inc., part of Japan Exchange Group. TSE runs four markets: Prime, Standard, Growth and the TOKYO PRO Market. Prime is defined for companies with market capitalisation and liquidity suited to institutional investors and a higher quality of corporate governance; Standard sets the basic governance level expected of a listed company; Growth is for companies disclosing business plans for high growth potential that carry relatively high investment risk on track record. TOKYO PRO Market sits apart, created under the professional-oriented market system introduced by a 2008 amendment to the Financial Instruments and Exchange Act, where exchange-approved J-Advisers, not the exchange, conduct the listing examination and support the company afterwards.
Read the full overview and sources
The scale is set out in TSE’s own count. As of Sep. 02, 2026 the exchange listed 1,549 companies on Prime, 1,557 on Standard, 598 on Growth and 187 on TOKYO PRO Market, a total of 3,891, of which 5 are foreign companies. That total has drifted down through the year: it was 3,933 at Jan. 31, 2026 and 3,892 at Aug. 31, 2026, so consolidation and delisting have been running ahead of new listings.
The market regulator is the Financial Services Agency, which sets the guidelines, administers the Financial Instruments and Exchange Act and publishes administrative actions against regulated institutions. TSE itself writes and enforces the trading rules. Auction trading runs in two sessions, a morning session from 9:00 am to 11:30 am and an afternoon session from 12:30 pm to 3:30 pm, with orders accepted from 8:00 am and 12:05 pm respectively. The market is closed on Saturdays, Sundays, national holidays, from January 1 to January 3 and on December 31. Prices are contained by daily price limits set in absolute yen against the previous day’s closing price, and those limits are widened on the third business day when an issue closes locked at the limit with no trading for two consecutive business days. Everything runs on the arrowhead matching system, in place since January 4, 2010; the physical trading floor closed on April 30, 1999.
The headline benchmark is TOPIX, the Tokyo Stock Price Index, a free-float adjusted market capitalisation weighted index covering domestic common stocks across Prime, Standard and Growth. Its base date is January 4, 1968 at 100 points and it has been calculated since Jul. 1, 1969. Issues on Special Alert, issues designated as securities to be delisted and very recently listed issues are excluded.
Alongside equities sits one of the world’s largest sovereign debt programmes. The Ministry of Finance issues Japanese Government Bonds under an annual JGB Issuance Plan, sells them through auctions to a primary dealer group under the JGB Market Special Participants Scheme, and also issues Treasury Discount Bills and Japan Climate Transition Bonds. GSN covers Japanese listed company disclosure, TSE market structure and index changes, FSA rulemaking and the JGB programme.
Sources
This overview is based on the official documents listed below, last checked 2026-09-03. Figures are as stated in those documents.
- Number of Listed Companies · Japan Exchange Group · 2026-09-03
- Listing on Tokyo Stock Exchange: Overview of IPO · Japan Exchange Group · 2026-09-03
- Trading Hours, Trading Rules of Domestic Stocks · Japan Exchange Group · 2026-09-03
- Daily Price Limits, Trading Rules of Domestic Stocks · Japan Exchange Group · 2026-09-03
- TOPIX (TPX) · Japan Exchange Group · 2026-09-03
- About FSA · Financial Services Agency · 2026-09-03
- Japanese Government Bonds · Ministry of Finance · 2026-09-03
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